Power Sports Market – Overview
The power sports Revenue comprises recreational and utility oriented vehicles and is leisure and lifestyle based Revenue. The Revenue includes off-road Vehicles (ORVs), including all-terrain vehicles (ATVs) and side-by-side vehicles (SxS), snowmobiles, motorcycles, and personal water crafts (PWC).
Applications within the Power Sport Revenue include motorcycles, UTVs, ATVs, snowmobiles, and personal water crafts (PWCs). The high-performance vehicles require high powered regulators and contactors which need to perform in a variety of harsh environments. Power sports products are designed to resist common environmental hazards such as moisture, dirt/debris, vibration/shock, and high operating temperatures. One of the characterizing components of any power sport is the utilization of a engine, some way or the other. With the increasing popularity the Power Sports segment is going to witness a significant growth in the forecasted period.
The major products used by this Revenue includes high current voltage regulators, sealed plastic contactors, and various electronic controls. The powersports is a subset of the generalized category of motorsports. The powersports are distinguished and defined from the other on the basis of use of engine.
The Powersports Revenue is expected to increase due to increasing urban population, growth in global GDP per-capita, increasing global youth population, etc. The market faces some challenges such as, high cost of snowmobiles, prone to economic fluctuations and high susceptibility to weather conditions. Integration of audio entertainment, mobile phones and Go-Pro cameras in recreational off-road vehicles enhances driving experience. Also, connectively of integrated bluetooth headsets provides advance communication channels between riders. Touch screen dashboard monitors tracks and displays better vehicle diagnostics, display various navigation tools and can be effectively used with glove covered fingers.
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Honda Motor, Yamaha Motor, Polaris industries, Harley Davidson and Arctic Cat. Polaris are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Power Sports Market.
Power Sports Market – Competitive Analysis
The competition in the global Powersports Revenue is dominated by the three big players, Arctic Cat, Polaris Industries Inc., and Yamaha Motor Co. Ltd. The Revenue is highly competitive in nature with all divisions operating in a highly consolidated structure. Every key market player conducts a analysis of their business & financial overview and business strategies.
Heavy R&D expenditure for upgradation of technologies is carried out by major Revenue players. The drive to expand product features including minimal maintenance, enables them to remain competitive in the Revenue. The companies are coming up with modern technologies and product launch to capture this growing Revenue.
The key components expected to drive the market growth include increased replacement demand for boats, expanding spending rate on power sports products, constant worldwide economic development, and developing urban population.
Revenue/ Innovation/ Related News:
Nov, 2017- American Honda announced its midsize adventure-touring machine, enabling sportier performance while retaining the practical, utilitarian attributes for which it is known. The new NC750X will initially be offered in Europe. The new model year brings a 75cc displacement increase to 745cc, along with the addition of two-level Honda Selectable Torque Control (HSTC).
Sep 2017- Textron Inc. acquired Arctic Cat in March 2017, adding another powerful brand to its portfolio of aircraft, professional tools, turf-care equipment and mowers, among many others. Most Arctic Cat side-by-sides and ATVs, including the Alterra, Prowler and Wildcat product lines, will now carry the Textron Off Road brand name, according to the company.
Oct, 2011- Polaris Industries Inc. announced a minority investment in Brammo, an Ashland, Ore.-based maker of electric vehicle technology and two-wheel electric vehicles. By investing in Brammo, Polaris obtains access to their proprietary electric vehicle powertrain technology, as well as exposure to the rapidly growing electric motorcycle market.
Power Sports Market – Segmentation
The Power Sports Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Terrains - All Terrain Vehicles and Side by Side
Segmentation by Models - Stand Up, Sit Down and Multi personal Models
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Power Sports Market – Regional Analysis
The market is mainly concentrated in the region of North America (the US and Canada) and Europe in particular. North America led the global power sports market. In snowmobile vehicle segment, the North America region is the largest Revenue player owing to high demands in adventurous sporting. The sales of motorcycle and PWC segments significantly improved after the global economic recession in the region.
In the US, California Air Resources Board (CARB) governs the vehicle emission regulations to curb air pollution. This law states that all the All-Terrain Vehicles (ATV) must demonstrate efficient exhaust and vehicle emission control systems along with well stated CARB emission standards.